Ford workers build the electric F-150 Lightning pickup truck at the automaker’s Ford Rouge Electric Vehicle Center on December 13, 2022.
Mike Welland | CNBC
Detroit- Ford The company will cut planned production of its all-electric F-150 Lightning pickup truck by about half next year, a major reversal after the automaker significantly increased production capacity at electric vehicle plants in 2023.
The new production plan calls for Ford’s Rouge electric vehicle center in Dearborn, Michigan, to produce an average of 1,600 F-150 Lightning vehicles per week starting in January, people familiar with the matter said. The automaker recently planned to produce an average of about 3,200 vehicles per week.
“We will continue to match production to customer demand,” a Ford spokesman said Monday.
Ford executives recently said the automaker would cancel or delay an upcoming $12 billion investment in electric vehicles to bring production in line with demand.
F-150 Lightning production cuts first detailed in planning memo to suppliers Obtained from Automotive News. The memo cited “evolving market demands” for the cuts, according to the publication.
With prices and interest rates still high, demand for electric vehicles has been slower than many expected. Automakers are working to cut production costs for all-electric vehicles while rethinking production and product plans for the next few years.
Ford spent six weeks earlier this year ramping up production of the F-150 Lightning at its Michigan plant, which is expected to be able to produce 150,000 all-electric trucks, three times the originally planned output.
F-150 Lightning sales have grown steadily in 2023, with November sales setting a monthly record of approximately 4,400 vehicles. This year through November, the company has sold just 20,365 trucks, a 54% year-over-year increase.
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